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As most real estate experts will tell you, building your property portfolio is a smart way to invest your money because land, like gold, retains its value. This means that you are safely investing your funds, as the likelihood of a return – or even profit – on your investment is high given that property and land are always in demand.

For those of you who are looking to expand your property portfolio further by buying real estate in Australia, it might be time to consider purchasing a holiday home. There are both financial and health benefits to be enjoyed by doing so.

Financial perks of a holiday home

In many ways, investing in a holiday home is the gift that keeps on giving because even when you are not using it, you can rent out the property to other holidaymaking families. This is where location, location, location comes in - consult with an agent to find a holiday home that is near the beach, parks, gardens or tourist attractions of a city to ensure you’re getting as much rent money as possible on a weekly basis. Sea views are a great calling card for renters.

Simply take your house off the rental market when you and your family want a vacation, so you can all enjoy the nearby amenities, too!

Health benefits of a holiday home

Interestingly, a study sponsored by Nuffield Health found that taking annual leave, or having regular holidays, can dramatically improve our overall health and wellbeing. In addition to being positive by releasing endorphins and dopamine, the chemicals that make us happy, going on holiday can reduce our blood pressure by 6 per cent on average, according to the study’s findings. What’s more, our sleep quality can also improve by up to 17 per cent.

One of the first things you’ll likely need to do when selling your home is decide on the target buyer. This can help you organise the marketing and sales campaign, and even set you on the right track for renovating. Depending on the area and the property itself you might settle on targeting families – but when your buyers have young kids, there are a couple of things they will probably look for in a home.

Here are some of the main things you can do to make your property more appealing to families.

Make it clear

Families have a particular set of things they might look for in a house, but to get your property on the radar it’s important to get the marketing campaign spot on. While a chunk of the pitch will involve the property itself, location can be the single biggest selling point for a property. The family-orientated buyer often looks for homes that have schools, parks or public amenities nearby. This could be why you chose to target families in the first place, but it’s important to emphasise the location in your marketing campaign.

Child-proofing

Parents will likely be on the look out for hazards in their search for a home. Stairways, decks and pool areas can all pose a risk so make sure you’ve eliminated some of the main issues. Think about doing some minor building work to improve the safety levels in the property. Make sure the latches on windows and doors are working properly, and install sturdy railing on the stair case and around raised areas, like balconies and decking.

Get a second opinion on your pool – they can be an attractive feature when the weather’s warm, but make sure you have any legal paperwork sorted out before the sale and double check that the fencing is all up to standard.

When you’re looking for a new home for your family, it’s important to remember that you aren’t just seeking out a great property – you’re in search of a great neighbourhood. There are many factors to consider for your family’s long-term wellbeing, here are a few important ones.

Reaching the teaching

If you have children, one of the most important aspects of a prospective neighbourhood is the nearby schools. Have a look around the suburb, and check up on the educational facilities. Do they have good teaching staff and favourable reviews? Are they near public transport, within driving distance or can you walk the kids to school every morning? You can check with friends or colleagues in the area for additional reports.

Keeping it green

Your weekend will often be a time for the family to do activities together, and not always within the comfort of your own home. So with that in mind, are there parks in the area? They provide a great opportunity to stretch your legs and get some sun, as well as let the kids let their energy out on a playground. Green amenities are also a must if you have pets such as dogs – they’ll love you for the ability to run around the green fields on a Sunday!

Top shops

You’ll also want to be able to easily do your grocery shopping when you settle down in a new family home – so how close is the nearest shopping centre? Other retail facilities like a bank, doctor, and perhaps a local cafe will be things you keep an eye out for too. Getting a cup of coffee with your friendly neighbour at your local cafe might not be high on the list to begin with, but it’s these little things that can really make an area shine.

Whether you are buying for the long term to settle down or purchasing property as an investment, there are many benefits of installing a granny flat on your property. You have to make sure you have the right space available to get it constructed, but if it’s a possibility, here are some great uses for this popular home add-on.

Bringing in the family

If you are an owner-occupier, there’s always the chance that you reach a point where a parent, or both parents, move back in with you. It’s a popular option that many prefer to having elderly parents live alone, or housing in a retirement village.

By constructing a granny flat, you offer your family the privacy they deserve, without crowding out your own home.

Housing ‘not-quite-there’ children

Sometimes, once they finish school, the kids aren’t quite ready to leave home. By having a granny flat on your property, you give them a living option before they take on the world of tenancy. You can even charge them minimal rent, easing them into the tenancy cycle while also boosting your own income.

Added rental home

If you have invested in real estate, adding a granny flat is an excellent way to increase your rent significantly. If regulations in your area allow it, you may be able to turn negatively geared property into a positive cashflow one, or bolster an already profitable house. There are space requirements for your land, and make sure you build far enough away from trees or fences to meet planning restrictions.

There are so many possibilities with the granny flat, and it doesn’t have to serve only one purpose over its lifespan. And no matter what use it serves, it will likely add value to your property, which is great when you sell down the line.